Red Rock Resorts (RRR) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Red Rock Resorts (RRR) reported revenue of $416.13 million, down 1.5% over the same period last year. EPS came in at $0.65, compared to $1.27 in the year-ago quarter.
The reported revenue represents a surprise of -0.41% over the Zacks Consensus Estimate of $417.84 million. With the consensus EPS estimate being $0.44, the EPS surprise was +47.73%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Red Rock Resorts performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Operating Revenues- Casino: $269.51 million compared to the $277.27 million average estimate based on four analysts. The reported number represents a change of -4% year over year.
Net Revenue- Las Vegas operations: $412.58 million versus $416.21 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.8% change.
Operating Revenues- Food and Beverage: $77.62 million compared to the $73.47 million average estimate based on four analysts. The reported number represents a change of +5.2% year over year.
Operating Revenues- Other: $24.11 million versus the four-analyst average estimate of $22.73 million. The reported number represents a year-over-year change of +3.4%.
Operating Revenues- Room: $44.89 million versus $43.36 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.4% change.
Net Revenue- Corporate and other: $3.55 million compared to the $3.30 million average estimate based on two analysts. The reported number represents a change of +66.8% year over year.
Adjusted EBITDA- Las Vegas Operations: $193.05 million versus $197.65 million estimated by five analysts on average.
Adjusted EBITDA- Corporate/Other: -$17.75 million compared to the -$18.04 million average estimate based on five analysts.
View all Key Company Metrics for Red Rock Resorts here>>>
Shares of Red Rock Resorts have returned +4% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Red Rock Resorts, Inc. (RRR) : Free Stock Analysis Report
